I have been watching DDD for a very long time, looking for a good spot to go long in this growing bussines. I believe that there is a buy signal right now. The only problem with it are the general market (stock market) conditions, which right now are unclear, at least for me. If there would be a clear long signal on the Dow or the S&P, I would buy a larger quantity of this stock than I would now. But I will ignore the uncertainty of the general market and take the long signal from 3D, with caution.
At the beginning of February, there were some bad reports on the 3d printing business and every stock in this sector fell heavily. That very day DDD came back strongly, but the risk reward wasn't great so I decided to wait. Right now the stock is at that very low, retesting with a bullish divergence, forming a double bottom, simply said, offering a better price to buy.
Looking at the weekly chart, there is a hidden divergence, labeled here on the daily. Hidden divergences are continuation signals of the prevailing trend. Back to the daily, I labeled 4 extreme price deviations from the MA wave. Right now, price is strongly deviated and a bounce should come.
The double bottom target is close to the round level of 100$, but that is way too far away to consider for the moment. Right now, my target is previous high at 80$ area.
At the beginning of February, there were some bad reports on the 3d printing business and every stock in this sector fell heavily. That very day DDD came back strongly, but the risk reward wasn't great so I decided to wait. Right now the stock is at that very low, retesting with a bullish divergence, forming a double bottom, simply said, offering a better price to buy.
Looking at the weekly chart, there is a hidden divergence, labeled here on the daily. Hidden divergences are continuation signals of the prevailing trend. Back to the daily, I labeled 4 extreme price deviations from the MA wave. Right now, price is strongly deviated and a bounce should come.
The double bottom target is close to the round level of 100$, but that is way too far away to consider for the moment. Right now, my target is previous high at 80$ area.
